Business advice

Recurring mistakes in your team? Here’s what to do (in 5 steps!)

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Mistakes within a team can be frustrating and costly, particularly for business owners who are trying to grow. Sure, occasional errors are inevitable and will happen over time. However, recurring mistakes may signal deeper ones that need addressing – ones that could lead to inefficiencies, financial losses, and even damage to your business’s reputation. So, […]

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6 essential bookkeeping tools every business owner should know about

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Let’s be honest, bookkeeping is rarely the highlight of a business owner’s day. But the good news? It’s come a long way. Thanks to cloud-based tools, managing your finances doesn’t have to be a time-consuming headache. The right tools can make bookkeeping quicker, easier, and more efficient. If you’re still buried in paper receipts or

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Why great bookkeeping matters for your business

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What is “great” bookkeeping, and why should you care as a business owner? When accountants and bookkeepers talk about ‘great bookkeeping’, it’s easy to zone out, especially since bookkeeping feels like a chore for many business owners. However, this mindset could be holding your business back!  Bookkeeping isn’t just about putting numbers into a software

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Overdrawn director’s loan account – must your company pay tax on the balance? 

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In personal and family companies, the lines between the company’s finances and the director’s finances may become blurred. A director may withdraw money from the company for personal use or may lend money to the company. The company may pay some of the director’s personal bills, and the director may personally meet some company expenses.

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Should you dispose of old documents?

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Over the past few years, tax enquiries aimed at identifying and correcting errors or deliberate under-reporting in tax returns have increased. HMRC generates substantial revenue from all compliance activities and although the exact proportion relating to tax enquiries is not always separately reported, the latest figures show that for 2023-24 the amount secured from all

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The company makes a loss – can a dividend be paid?

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Anyone who invests in a company is taking a chance, hoping that the directors, as representatives of the company, will use the money to increase the company’s profit. In return for taking this chance, a shareholder receives ‘payback’ usually as a share in the distribution of profits in the form of a dividend, however. payment

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How to lead during periods of uncertainty

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In business (and life for that matter!), the only consistent thing, is change. So the question is, “How can you move your business forward when you’re constantly facing uncertainty?”  Whether it’s a pandemic disrupting supply chains or a new national government, geopolitical shifts like Brexit rewriting trade rules, uncertainty tests every organisation’s resilience. However, it

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